The ongoing feud between America and Russia is not showing any sign of stopping. Its effect is also visible. The important thing is that the oil companies are suffering losses due to the fight between President Vladimir Putin and President Donald Trump. Russia’s second largest oil company Lukoil has said that it will sell its international assets. Lukoil has taken this strong step.

According to a Reuters report, Lukoil said, “The assets OFAC Being sold under wind down license. If necessary, the company may consider expanding the license application to operate its international assets without any disruption.

Trump had banned two big oil companies of Russia

Lukoil is Russia’s second largest oil producing company. After the Ukraine war that started in February 2022, America imposed many sanctions on Russia. Oil companies are incurring huge losses due to this. For this reason Lukoil has taken this step. Trump had banned Lukoil and Rosneft. These two companies produce 50 percent of Russia’s crude oil.

After US, Britain also took action

After America, Britain also took action against Lukoil and Rosneft. Britain had banned 44 shadow tankers on October 15. These were tankers whose ownership rights were not known. Britain said that this step has been taken to reduce Russia’s earnings from crude oil. America had also said the same thing while banning Lukoil. If we talk about Lukoil’s foreign assets, it has an oil well in Iraq. This is one of the largest oil fields in the world.

Vladimir Putin Statement: Russian President Vladimir Putin completely rejected the new sanctions imposed by the US on his country’s two largest oil companies. He said that these sanctions are an attempt to put pressure on Moscow, but Russia will not succumb to any external pressure.

Putin said, ‘No self-respecting country does anything under pressure.’ His comments came when Washington imposed stringent sanctions on Russia’s two major oil companies, Rosneft and Lukoil. This step of America has been taken in response to Russia’s refusal for immediate ceasefire in Ukraine.

‘Oil prices will increase due to sanctions’

Vladimir Putin claimed that he had already warned US President Donald Trump that these sanctions could destabilize the global energy market and increase oil prices, which would also affect America itself. He said, ‘We had said very clearly that this will affect global oil prices, including the US.’

US Sanctions on Russian Firms: Moscow has reacted strongly to the new sanctions imposed on Russian oil companies by the US Trump administration. Russia said that this decision of the Trump government will deal a blow to peace efforts and the country will take every possible step to protect its interests. Moscow says that whatever diplomatic initiatives were taken so far to end the Ukraine conflict, America has weakened them by taking such steps.

Tension will increase further between US and Russia

According to AFP report, Russian Foreign Ministry spokeswoman Maria Zakharova said that she considered the US move to be a “decision taken in the opposite direction”, which will not help in resolving the Ukraine dispute. At the same time, Russian officials also claimed that Moscow has developed strong deterrence mechanisms to deal with Western sanctions, and in the future these mechanisms will be further strengthened in the economic and energy sectors.

In fact, US President Donald Trump on Wednesday had announced sanctions on two major Russian oil companies – Rosneft and Lukoil. Trump said that no concrete progress is being made in diplomatic talks with Russian President Vladimir Putin. Speaking to AFP, Trump said, “We keep talking, the talks are good, but we don’t get results.”

Tension increased due to Trump’s new sanctions

During the meeting with NATO Secretary General Mark Rutte, Trump expressed the hope that the effect of these sanctions will not last long and the war will end soon. At the same time, US Secretary of State Marco Rubio said that despite the sanctions, America is ready for peace talks. He said, “Wherever there is an opportunity for peace, America will be ready for talks.”

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